Hermès Birkin Goes For $203,150 At Auction

There’s a new record in conspicuous consumption: a Hermès piece has the title of highest price for a handbag sold at public auction… for $203,150. The sale took place in Dallas, Texas and involved, unsurprisingly, the label’s most iconic style: the Birkin.

The bag is officially called “Hermès Exceptional Collection Shiny Rouge H Porosus Crocodile 30 cm Birkin Bag with Solid 18K White Gold & Diamond Hardware,” which is what I will name my race horse. The meaning of the name amounts to “red and crocodile skinned,” as you can see. The bag went to its new owner on December 6th and he/she wished to remain anonymous, what with the current climate of outrage at economic inequality and such.